Strategic alliance or rivalry—Mercedes boss Toto Wolff considers joining Alpine—The battle against Christian Horner reaches a whole new level
The 24 percent stake that Otro Capital holds in the Alpine Formula 1 team remains a highly coveted asset in the paddock. It had already been leaked that former Red Bull team boss Christian Horner was interested, and Alpine advisor Flavio Briatore made no secret of it.
At the team presentation in January, he even publicly confirmed Horner’s ambitions. However, another bidder has now entered the fray ahead of the season opener in Melbourne. As first reported by The Telegraph, Mercedes team boss Toto Wolff appears to have joined the race.
Briatore had previously emphasized that there were several interested parties besides the consortium associated with Horner, but did not name any names—and thus did not explicitly refer to Mercedes. When asked by Motorsport.com, Alpine declined to comment on specific names, but confirmed once again that several parties were interested and that the process was still ongoing.
Strategic decisions?
“The team is regularly contacted by several parties and potential investors,” explained a team spokesperson. “We do not comment on specific names or individuals. Any discussions are not a matter for the team, but take place between the current shareholders and the interested parties. The team’s main focus is on the immediate task at hand: the start of the racing season and a sustainable recovery in performance on the track.”
Mercedes has not denied Wolff’s interest in Alpine shares, instead confirming that it always keeps an eye on strategic opportunities: “Mercedes is an important strategic partner of Alpine, and we are being kept informed of the latest developments.”
Although the story was quickly labeled by the public as another chapter in the rivalry between Horner and Wolff, in reality it goes far beyond that—it is primarily about strategic interests.
Horner also interested
For Horner, the Otro shares could offer a suitable way to return to Formula 1. The Brit has already won everything as team principal and CEO of Red Bull Racing and has repeatedly indicated that he would only consider a return to the premier class in a “higher-ranking role” – acquiring shares would be part of this ambition. From Mercedes’ point of view, the interest also goes far beyond the Horner vs. Wolff duel. First of all, Alpine is a customer team of Mercedes High Performance Powertrains (HPP) this year. The contract runs until the end of 2030, making the relationship closer than ever. After discontinuing its own Formula 1 engine project in Viry, the French team now uses both Mercedes power units and gearboxes.
What happens to the shares of this customer team is therefore an interesting development for Mercedes—because it directly affects who they will be working with in the future. Strategic decisions like this affect not only the Formula 1 sites in Brackley and Brixworth, but the entire strategic direction of the Mercedes Group.
Competitors are watching closely
In addition to the commercial appeal of Formula 1 and thus of every available share package—although the impact of the new regulations remains a big question mark—there is also a sporting component to consider.
Last year, McLaren CEO Zak Brown expressed concerns about certain ownership structures in Formula 1. Although his comments specifically referred to Red Bull and its ownership of sister team Racing Bulls, the acquisition of shares in Alpine would also constitute a form of partnership. This could further strengthen the synergies between the two parties, which is why other Formula 1 teams are also closely monitoring developments.
However, one crucial difference remains: regardless of who ultimately acquires Otro Capital’s shares, the Renault Group would still retain a comfortable controlling majority in the Formula 1 team with 76 percent of the shares.
